Type Public Founders Jerry Rao
Jeroen Tas Headquarters Bengaluru | Founded June 2000 Key people Nitin Rakesh (CEO) Founder Jerry Rao | |
Traded as BSE: 526299
NSE: MPHASIS Industry IT services, IT consulting Stock price MPHASIS (NSE) ₹ 590.00 -0.90 (-0.15%)20 Mar, 3:30 PM IST - Disclaimer CEO Nitin Rakesh (29 Jan 2017–) Revenue 60.74 billion INR (US$900 million, March 2016) Profiles | ||
Mphasis management on q4 earnings
Mphasis is an IT services company based in Bangalore, India. The company provides infrastructure technology and applications outsourcing services, as well as architecture guidance, application development and integration, and application management services. It serves financial services, telecom, logistics, and technology industries. Mphasis is ranked #7 in India IT companies and overall #165 by Fortune India 500 in 2011. In February 2014, Mphasis changed its logo and the brand name as Mphasis Unleash the Next, seeking to boost business other than from parent Hewlett-Packard, its largest client. In April 2016, Hewlett Packard Enterprise sold majority of its stake in Mphasis to Blackstone Group LP for around a billion dollars.
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Mphasis care transformation services
History
Mphasis was formed in June 2000 after the merger of the US-based IT consulting company Mphasis Corporation (founded in 1998 in Santa Monica by Jerry Rao and Jeroen Tas.) and the Indian IT services company BFL Software Limited (founded in 1992).
In June 2006 Electronic Data Systems (EDS) purchased a controlling stake in the company (42%) for $80 million and operated the company as an independent EDS unit. On 13 May 2008, Hewlett-Packard confirmed that it had reached a deal with Electronic Data Systems to acquire the company for $13.9 billion. The deal was completed on 26 August 2008.
In September 2009 Mphasis changed its brand identity by dropping EDS association to become "Mphasis, an HP Company" after HP retired EDS Brand to become "HP Enterprise Services". Mphasis operated as an independent HP subsidiary with its own board and continued to be listed on Indian markets as "Mphasis Limited". HP owned close to 62% in Mphasis and Mphasis got around 50% of its revenues from HP.
Mphasis marked $1 billion in revenues and registered a consolidated revenue of Rs50.37 billion ($1,099.3 million) for the year ended 31 October 2010 becoming the sixth Indian IT company to do that. On 30 June 2015, Mphasis announced the signing of a definitive agreement to transfer a significant portion of its domestic business, to Hinduja Global Solutions (HGS). HGS is a global BPM leader in optimizing customer experience for clients. On 10 July 2015, Mphasis announced it will move 2,000 employees to Karvy Data Management Services Ltd (KDMSL) as part of a deal signed to partially sell its domestic outsourcing business to Karvy.
In 2016, after Hewlett-Packard announced plans to sell its controlling stakes in Mphasis, three companies Tech Mahindra, Apollo Global Management and Blackstone Group entered the race to acquire Mphasis. Tech Mahindra emerged as the frontrunner before it decided to pull out in order to avoid a bidding war with other companies. In April 2016, it was announced that Blackstone had acquired 84 percent of Hewlett-Packard's stake in Mphasis in a deal worth between $825 million and $1.1 billion.
On 29 Jan 2017, Nitin Rakesh joined Mphasis as the Chief Executive Officer and Director.
Services
Mphasis providing information technology services to its customers around the world. Mphasis provides integrated solutions that include business process outsourcing, infrastructure technology, and application services. The application services offered by the company includes application development as well as applications maintenance and support services. The markets served by the company are financial services & insurance, healthcare, manufacturing, government, transportation, communications, and consumer & retail industries.
Offices
MphasiS has more than 30 offices in 19 countries with delivery centers in India, Sri Lanka, China, Australia, Japan, North America and Europe. In India it has presence with centers in Bangalore, Raipur, Chennai, Pune, Hyderabad, Mumbai, Vadodara, Indore, Puducherry, Ahmedabad, and Mangalore.